Magazine article Mortgage Banking

LPS' ClosingStream 2.0 First to Meet Fannie Requirements for HAMP eSign Solutions

Magazine article Mortgage Banking

LPS' ClosingStream 2.0 First to Meet Fannie Requirements for HAMP eSign Solutions

Article excerpt

Lender Processing Services Inc. (LPS), Jacksonville, Florida, a provider of integrated technology and services to the mortgage and real estate industries, has released ClosingStream[TM] 2.0, a Web-based, consumer-facing workflow application with eSignature capabilities specifically designed to support the Home Affordable Modification Program (HAMP).

According to LPS, ClosingStream is currently the only solution available that complies with Fannie Mae's business requirements for HAMP electronic signature solutions, which were published on Sept. 25, 2009, and detail the requirements an electronic signature solution must offer to support eHAMP. ClosingStream 2.0 delivers all of the necessary functionality, which includes document generation, document formatting and document fulfillment/execution.

"With HAMP modification volumes on the rise, servicers are looking for ways to electronically streamline the process and lower costs," said Al Verkuylen, chief strategy officer at LSI, a division of Lender Processing Services. "ClosingStream 2.0 is an interactive, consumer-friendly portal, providing servicers with impressive efficiency gains when processing HAMP and other loan modifications. …

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